Economics at your fingertips  

Filtering speed in a Continental European reorganization procedure

Nico Dewaelheyns and Cynthia Van Hulle

International Review of Law and Economics, 2009, vol. 29, issue 4, 375-387

Abstract: Recent studies of US Chapter 11 show it to be a relatively efficient procedure. We examine reorganization cases in a Continental European, creditor-oriented bankruptcy system, viz. Belgium, and report very different findings. Using hazard and cure regression models to determine what drives the length of time spent in reorganizations, we find evidence suggesting that courts have little impact on the screening and filtering process. In fact, many drivers of procedure length prove to have the opposite sign of what one would expect if the procedure would efficiently realise its goals. Instead, the procedure appears to be mainly creditor or owner-driven.

Keywords: Reorganization; Bankruptcy; Hazard; models; Filtering; speed (search for similar items in EconPapers)
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16)

Downloads: (external link)
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

International Review of Law and Economics is currently edited by C. Ott, A. W. Katz and H-B. Schäfer

More articles in International Review of Law and Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().

Page updated 2024-03-31
Handle: RePEc:eee:irlaec:v:29:y:2009:i:4:p:375-387